In re Nandanam Builders and Developers Private Limited (NCLT Kochi)
The National Company Law Tribunal (NCLT), Kochi Bench, allowed an appeal filed by the Income Tax Officer under Section 252(3) of the Companies Act, 2013, seeking restoration of the name of M/s. Nandanam Builders and Developers Private Limited, which had been struck off by the Registrar of Companies (ROC) on 16.06.2017 under Section 248 of the Companies Act, 2013.
The Income Tax Officer submitted that the company, incorporated on 18.02.2009, had failed to file its return of income for Financial Year 2017–18 relevant to Assessment Year 2018–19. During risk management analysis, the department identified cash transactions amounting to ₹52.5 lakh, indicating possible escapement of taxable income. Attempts to obtain information from the company were unsuccessful. A notice under Section 148A(b) of the Income Tax Act, 1961, was issued, following which the third respondent informed the department that the company had already been struck off. An order under Section 148A(d) was thereafter passed on 30.08.2024. The appellant contended that since the company had ceased to exist as a legal entity following strike-off, assessment proceedings could not be completed, making restoration necessary to safeguard the interests of the Revenue. The appellant also referred to Section 248(6) of the Companies Act, 2013, regarding the Registrar’s obligation to provide for the company’s liabilities before striking it off.
